Small Business Loans for Convenience Stores

With these small business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $501,300 was given to a Michigan entrepreneur in 2005.

This company knew how to go about getting a business bank loan. Based in Battle Creek, Michigan, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Fifth Third Bank, based in Grand Rapids, Michigan.

SBA Loan Borrower

COMPANY TYPE: CONVENIENCE STORES
BATTLE CREEK, MI 49015

SBA Loan Lender

FIFTH THIRD BANK
111 LYON ST NW
GRAND RAPIDS, MI 49503

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445120 - Convenience Stores

Loan Approval Date

5/19/2005

Loan Approval Gross Amount

$501,300

Loan Approval from the SBA

Of the total $501,300 loan amount, the SBA guaranteed $375,975.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Battle Creek or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

SBA Banks in Grand Rapids, Michigan

Getting a Business Loan in Michigan